MILWAUKEE--(BUSINESS WIRE)--Rexnord Corporation (NYSE: RXN) announced today that it acquired World Dryer Corporation. World Dryer is a leading global manufacturer of commercial electric hand dryers with the largest worldwide installed product base.
World Dryer has annual sales of approximately $20 million, and will join Rexnord’s Zurn business. The combination of World Dryer’s eco-friendly hand dryers and Zurn’s water-efficient plumbing products is expected to bring even greater value to commercial building owners in the form of lower operating costs.
Headquartered in Milwaukee, Wisconsin, Rexnord is comprised of two strategic platforms, Process & Motion Control and Water Management, with approximately 8,000 employees worldwide. The Process & Motion Control platform designs, manufactures, markets and services specified, highly engineered mechanical components used within complex systems. The Water Management platform designs, procures, manufactures and markets products that provide and enhance water quality, safety, flow control and conservation. Additional information about the Company can be found at www.rexnordcorp.com.
Zurn, a business within Rexnord’s Water Management platform, is a recognized leader in commercial, municipal, healthcare and industrial markets. Zurn offers the largest breadth of engineered water solutions, including a wide spectrum of sustainable plumbing products. Zurn delivers total building solutions for new construction and retrofit applications that enhance building environments.
Cautionary Statement on Forward-Looking Statements
Information in this release may involve outlook, expectations, beliefs, plans, intentions, strategies or other statements regarding the future, which are forward-looking statements. These forward-looking statements involve risks and uncertainties. All forward-looking statements included in this release are based upon information available to Rexnord Corporation as of the date of the release, and Rexnord Corporation assumes no obligation to update any such forward-looking statements. The statements in this release are not guarantees of future performance, and actual results could differ materially from current expectations. Numerous factors could cause or contribute to such differences. Please refer to "Risk Factors" and "Cautionary Notice Regarding Forward-Looking Statements" in the Company's Form 10-K for the fiscal year ended March 31, 2017 as well as the Company's annual, quarterly and current reports filed on Forms 10-K, 10-Q and 8-K from time to time with the Securities and Exchange Commission for a further discussion of the factors and risks associated with the business.